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Financial Freedom

Financial Freedom

Financial Freedom

Financial freedom Everyone wants to reach it, but does not know where the right path is . Or he will not find someone to put his foot on the right path to do so. In this article, you will see how to move from financial slavery to financial freedom, but at the beginning, you must know some things about financial freedom in order to reach it, and among these things :

What is financial freedom?

It is that you have assets (real estate, shares, etc.) and an income from them that is higher than your monthly expenses comes from.

Why do you want to be financially free?

You must ask yourself this question in order to strive hard for financial freedom, and you have a clear goal and vision. Do you want to be financially free in order to have free time to sit with your family and children, or to practice your favorite identities, or to travel to the country you wish to travel to, or to open the company you want? Your answer to this question must be clear and precise, because it will entail, among other things, the precise setting of your financial goals.
Some misconceptions about financial freedom :
  • I must have a high degree and qualification to be financially free.
  • If a person becomes financially free, he does not work and do nothing in his life.
  • Too much money or financial freedom does not bring happiness.
  • A good salary gives me financial freedom.

And other misconceptions about money or financial freedom, which is evil or does not bring happiness is a love of money, not that you want to be financially free or have financial dignity there is a difference between them, and many of the misconceptions   about financial freedom.
To be financially free, we have set 6 stages until you reach financial freedom, which are:
Financial planning _ personal budget _ debt repayment _ safety fund (emergency) _ savings _ investment.
  So the question on your mind is:

How can I be financially free?

To be financially free, you will go through these six stages, and we will talk about each  stage in detail

Financial Planning:

Financial planning is an assessment of your current financial situation and what you want to be in the future.
You must assess your current financial situation, and that is by sitting somewhere on your own, and your mind is pure and comes in a group of papers, and you write in it everything related to your financial situation in terms of what you own (for example, the house or the car, all of this assets) write everything that you own. Then write your debt. What is the cost of debt? Are you working or not? And what is your salary? What are your main expenses? Do you live in rent or property? So you write everything on these papers, and they are clear, accurate and organized. Then write in other papers your financial goals or what you would like them to be. Like buying a house or a car, opening a company or a business of your own, or the financial freedom we are talking about, you write everything down.
You should consider the following points when writing the financial plan:
Each person has a separate financial plan there is no specific template.
You must have some flexibility when writing a plan.
The plan must be clear and strong.
You should know that this stage is the basis and all the next stages will be built upon. After assessing your financial situation in the correct way, we will move to the second stage, which is:

Personal Budget.

Personal budget means organizing your financial affairs to make your income exceed your expenses and the difference is saved or invested. If you can adjust your personal budget, you will be able to access financial freedom.
The personal budget must be in writing, which is your monthly income (which is all income that comes to you during the month, whether fixed or not). After that if your income is small or large, you should divide your income as follows:
a70% of your monthly expenses (rent - food and drink - ……… etc).
a5% donated (this is the most important thing and it increases money). 
a10% savings.
a10% investment.
Would you say how do I divide it by dividing me with no money or little monthly income? 
Because this will force you to work or think about increasing your income, which is what we want, and this method will tell you whether your income is good, acceptable, or not good, by which you will determine your correct financial position and where you are from financial freedom. 
After knowing that, we will move to the third stage, which is:

Debt Repayment.

The debt repayment stage is a very important point. First, you must answer these questions.
A _ What is the cost of debt?
B- Will this debt affect my other goals?
After the honest answer to these two questions, you must set a clear time plan for paying this debt. Either by overtime or anything that increases your income as we will know in the investment phase.
After that, the fourth stage:

Safety box (emergency).

It is a fund for allocating money to unexpected events in which you place your money, and it is not a savings fund and has expenses from 6 months to a full year.
And the safety box (emergency) comes before saving and takes it from the time of need, and the emergency box is very important to help you when you lose a job or work or anything sudden.
The purpose of this fund is to secure you from unforeseen expenses in the future and also do not pay from anyone, you must start early to establish an emergency fund.
How does this fund originate?
We previously said on the way to divide your income. From the savings item, you will take apart from it every month and put it in the emergency fund until there is an amount in this fund from 6 months to a year of work.
 For example, if your income is 3000, then multiply by 3000 * 6 = 18,000 pounds, then it must be in the emergency fund 18,000 pounds, and so on. Every month, you put an amount in this fund until you reach the required amount.
Try to have the flexibility and a clear plan to pay off debts, the emergency fund, and savings, and you must keep the emergency fund in a place you can reach quickly and easily, but you must be careful not to take from it at any time this fund for emergency matters only.
Then we talk about the saving stage:


Savings is the allocation of a portion of the monthly income for future use.
And as we said, savings will be 10% or more if you can. And by the multiple sources of income, as we will know in the stage of investment.
Savings are culture and behavior if you regularly practice your mastery and get used to it, and try to come up with a notebook and write your income, and write everything you do, to know where your money goes.

Some saving tips:

  • Stop buying what you can prepare at home.
  • Educate yourself in financial science.
  • savings on eating expenses.
  • Energy-saving.
  • Don't pay a cent until you know where to put it.
  • The reward or money that was not taken into account saved a large part of it.
  •  Restraint in shopping by preparing a list of everything you need just before shopping.
  •  Stay away from bad habits such as smoking, waste, and extravagance.
  • Doing sports (at least at home) so that you do not get sick to save money and time.
And you have to know the more income ways the more savings.

What is the benefit of saving?

  • Achieving big goals such as marriage, opening your own business, owning a home ... etc.
  • Saving saves you financial freedom and financial security in a short time.
  • Strongly helps you invest.
  • helps you to develop yourself.
  • helps you not to take out debts.
  • It relieves you from stress and life stress.

How do I save my savings?

Do not save your money in paper currencies because they lose their purchasing value over time, but try to save your savings by buying gold and silver bars for reasons including:

  • Gold and Silver maintains the consumption value of money.
  •  Gold and silver protect you from inflation.
  •  Gold and silver will be in front of your eyes, but it is not easy to exchange them.
After we took a general idea about saving, we move to the last stage, which is an investment, which is the path that will lead us to financial freedom.


What is an investment?

Investing is putting your ideas, skill, or money saved into projects with the goal of obtaining a greater return in the future.
Rich Person: A person whose expenses are less than his monthly income and invests the difference.
You have to know your real wealth is your time and freedom, but money is a tool to evaluate your effort.

Invest in yourself first:

The best investment is investing in oneself. Try to use your free time to learn skills to benefit you in your working life. A month will not be missed unless you learn a new skill, and skills are different types of skills for self-development (such as self-confidence, communication with others, time management, etc). and practical skills (such as teaching Languages, programming, design, crafts ... etc).

How do I start investing?

First, you have to know what your skills are, and if you do not have skills (this is impossible). Try to learn it. Look at yourself with any skill you tend to learn and then make money with it. Some people do not invest because they do not have the money, they say we need capital, and this is a misconception because you only need capital without money, which is the mind. If your real goal is to invest, you need to think well about investing and a profitable idea is profitable. Study the environment around you and what you need or what is missing in it, and go to the one who sells this product altogether and take the product from him even if it is a few, and continue on this way and you will see for yourself that the project gets bigger day by day but you have to be patient and learn selling skills such as negotiation skill and good communication With others, flexibility in handling and other selling skills.

Some projects that do not need simple capital or money:

  • That you have a profession or skill (such as design, for example) of skills.
  •  electronic commerce.
  •  profit from the Internet in general.
  • educational training courses.

Tips when starting an investment:

  • A good feasibility study must be done for the project.
  •  After completing the feasibility study, start immediately.
  • Read and search all the time for the product or skill that you will work with.
  • Read a lot about finance science and everything related to it.
  •  Try to take advantage of opportunities by studying the market.
  •  You must write and know everything you spend.

How do I reduce investment risks?

  • The type of your investments.
  •  Initially use the investments with the lowest risks.
  •  Benefit from the rich and the rich through their success stories.
You will make a lot of money, so think about a good project and be patient, keep going and learn.



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